Full Press Release Details
Cryoport Reports Third Quarter 2025
Tennessee, November 4, 2025, - Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport" or the "Company"),
a leading global provider of temperature-controlled supply chain solutions for the life sciences, today announced financial results for
its third quarter (Q3) and first nine months (9M) of 2025. Provided in this press release are financial
performance highlights, an update to our annual revenue guidance for 2025 and access information for today's earnings conference
Shelton, CEO of Cryoport, commented, "Q3 was another outstanding quarter for Cryoport with 15% year-over-year
growth in revenue from continuing operations. During the third quarter, we continued to see strong momentum, with double-digit
growth. A driver of our total Q3 revenue was from the support of commercial cell and gene therapies, which grew 36% year-over-year to
$8.3 million. Our Q3 Life Sciences Services revenue increased 16% year-over-year, representing 55% of total revenue from continuing operations.
This included a 21% rise in BioStorage/BioServices revenue, reflecting continued strong demand for our integrated platform. We also saw
encouraging signs of stability in our Life Sciences Products segment, where revenue grew 15% year-over-year, supported by sustained demand
for our market-leading cryogenic systems. Cryoport continues to demonstrate a visible pathway to profitability with improvements in adjusted
EBITDA and a solid gross margin of 48% in Q3, while continuing to invest in our priority growth initiatives to drive long-term value.
also executed on key strategic and operational initiatives during the quarter. MVE Biological Solutions launched its next-generation
SC 4/2V and SC 4/3V dry vapor shippers equipped with integrated Condition Monitoring Solutions for these dewars, combining its trusted
cryogenic systems with our advanced, real-time condition monitoring technology supplied by Tec4med, another Cryoport company. Our pipeline
of new innovative products and services, including IntegriCell, positions Cryoport well to capture greater wallet share and offer clients
a more integrated solution.
also expanded our global infrastructure with the opening of our newest Global Supply Chain Center near the Charles de Gaulle Airport
in Paris, France, while advancing plans to open another Global Supply Chain Center in Santa Ana, California targeted for late 2026 that
will replace three existing facilities in the area. In addition, we have begun leveraging our recently established strategic partnership
with the DHL Group, which we anticipate, as it develops, will fuel growth in our Life Sciences Services business in EMEA and APAC and
further strengthen our leadership in supporting the global life sciences market.
our momentum and year-to-date performance along with our strong Q3 results, we are raising our full-year revenue guidance from continuing
operations to a range of $170.0 million to $174.0 million. Cryoport continues to maintain competitive differentiation as the only pure-play
end-to-end temperature-controlled supply chain platform that supports the largest portfolio of clinical and commercial Cell &
Gene therapies," concluded Mr. Shelton.
form, Q3 2025 and 9M 2025 revenue compared to Q3 2024 and 9M 2024, respectively, were as follows:
Inc. and Subsidiaries
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||
| (in thousands) | 2025 | 2024 | % Change | 2025 | 2024 | % Change | ||||||||||||||||
| Life Sciences Services | $ | 24,258 | $ | 20,931 | 16 | % | $ | 71,492 | $ | 60,568 | 18 | % | ||||||||||
| BioLogistics Solutions | 19,428 | 16,955 | 15 | % | 57,832 | 49,540 | 17 | % | ||||||||||||||
| BioStorage/Bio Services | 4,830 | 3,976 | 21 | % | 13,660 | 11,028 | 24 | % | ||||||||||||||
| Life Sciences Products | $ | 19,975 | $ | 17,386 | 15 | % | $ | 59,235 | $ | 54,749 | 8 | % | ||||||||||
| Total Revenue From Continuing Operations | $ | 44,233 | $ | 38,317 | 15 | % | $ | 130,727 | $ | 115,317 | 13 | % |
BioStorage/BioServices
revenue continued to experience strong year-over-year growth, increasing 21% in Q3 2025 as we continue to introduce our capabilities
to existing clients, add new clients into our global network, and as more commercial therapies progress in the number of patients treated.
from the support of commercial cell & gene therapies increased 36% year-over-year to $8.3 million and included revenue from
BioLogistics Solutions and sale of accessories. As of September 30, 2025, we supported nineteen (19) commercial therapies.
September 30, 2025, Cryoport supported a total of 745 global clinical trials, a net increase of 54 clinical trials over September 30,
2024, with 83 of these clinical trials in Phase 3. The number of trials by phase and region are as follows:
Supported Clinical Trials by Phase
| September 30, | |||||||||
| Clinical Trials | 2023 | 2024 | 2025 | ||||||
| Phase 1 | 275 | 295 | 309 | ||||||
| Phase 2 | 314 | 317 | 353 | ||||||
| Phase 3 | 81 | 79 | 83 | ||||||
| Total | 670 | 691 | 745 |
Supported Clinical Trials by Region
| September 30, | |||||||||
| Clinical Trials | 2023 | 2024 | 2025 | ||||||
| Americas | 516 | 531 | 559 | ||||||
| EMEA | 112 | 112 | 137 | ||||||
| APAC | 42 | 48 | 49 | ||||||
| Total | 670 | 691 | 745 |
2025, 4 Biologics License Applications (BLA) / Marketing Authorization Applications (MAA) filings occurred. Post quarter-end, 3 additional
BLA filings occurred. During the quarter, Cryoport's customer ExCellThera
received conditional marketing authorization from the European Commission (EC) for their cell therapy Zemcelpro , as the
first and only cell therapy for blood cancer patients without access to suitable donor cells. This EC decision authorizes the marketing
of Zemcelpro in all European Union member states, as well as Iceland, Norway and Liechtenstein.
and subsequent to the end of Q3 2025, Cryoport's customer Bristol Myers Squibb received another supplemental approval from the EC to
expand the label of Breyanzi as a third line treatment for relapsed or refractory follicular lymphoma. During the remainder
of 2025, we anticipate up to an additional 7 application filings, 1 new therapy approval and an additional 2 approvals for label/geographic
expansions; however, these anticipated approvals and filings may be adversely impacted by the current federal government shutdown in
ahead to 2026, 5 customers have Prescription Drug User Fee Act (PDUFA) dates in the first and very early second quarter. Additionally,
we are currently forecasting up to 25 possible BLA/MAA filings in 2026, with the majority being for new therapies.
Operational milestones
Life Sciences Services
Life Sciences Products
On June 11, 2025, the Company
completed its previously announced divestiture of its specialty courier CRYOPDP business to DHL Supply Chain International Holding B.V.
("DHL") and entered into a strategic partnership with DHL. The divestiture and strategic partnership are expected to enhance
the Company's ability to develop its business, particularly in the EMEA and APAC regions, and to provide differentiated and high-value
services aligned with Cryoport's long-term growth strategy. The results of CRYOPDP, a former business within Cryoport's Life
Sciences Services segment, are presented as discontinued operations for all periods presented within the Condensed Consolidated Statements
of Operations and Condensed Consolidated Balance Sheets included in this press release and are also not included in the non-GAAP financial
measures presented herein.
Operating Costs and Expenses
including Discontinued Operations
EBITDA from continuing operations
Cash equivalents, and Short-Term Investments
Guidance for Continuing Operations for Full-Year Fiscal 2025
All reconciliations of GAAP to adjusted (non-GAAP) figures above are detailed in the reconciliation tables included later in the press
Further information on Cryoport's financial results is included
in the attached condensed consolidated balance sheets and statements of operations, and additional explanations of Cryoport's financial
performance are provided in the Company's Quarterly Report on Form 10-Q for the three months ended September 30, 2025,
which is expected to be filed with the SEC on November 6, 2025. Additionally, the full report will be available in the SEC Filings
section of the Investor Relations section of Cryoport's website at www.cryoportinc.com.
Conference Call Information
INFORMATION: In addition to the earnings release, a document titled "Cryoport Third Quarter 2025 in Review", providing
a review of Cryoport's business update, will be issued at 4:05 p.m. ET on Tuesday, November 4, 2025. The document is
designed to be read in advance of the questions and answers conference call and will be accessible at https://ir.cryoportinc.com/news-events/ir-calendar.
management will host a conference call at 5:00 p.m. ET on November 4, 2025. The conference call will be in the format of a
questions and answers session and will address any queries investors have regarding the Company's reported results. A slide deck
will accompany the call.
| Date: | Tuesday, November 4, 2025 |
| Time: | 5:00 p.m. ET |
| Dial-in numbers: | 1-800-717-1738 (U.S.), 1-646-307-1865 (International) |
| Confirmation code: | Request the "Cryoport Call" or Conference ID: 1120106 |
| Live webcast: | Investor Relations' section at www.cryoportinc.com or click here . Please allow 10 minutes prior to the call to visit this site to download and install any necessary audio software. |
The questions and answers call will be recorded
and available approximately three hours after completion of the live event in the Investor Relations section of the Company's website
at www.cryoportinc.com for a limited time. To access the replay of the questions and answers click here. A dial-in replay
of the call will also be available to those interested, until November 11, 2025. To access the replay, dial 1-844-512-2921 (United
States) or 1-412-317-6671 (International) and enter replay entry code: 1120106#.
(Nasdaq: CYRX), is a leading global provider of temperature-controlled supply chain solutions for the life sciences, with an emphasis
on regenerative medicine. We support biopharmaceutical companies, contract manufacturers (CDMOs), contract research organizations (CROs),
developers, and researchers with a comprehensive suite of services and products designed to minimize risk and maximize reliability across
the temperature-controlled supply chain for the life sciences. Our integrated supply chain platform includes the Cryoportal
Logistics Management Platform, advanced temperature-controlled packaging, informatics, specialized biologistics, biostorage, bioservices,
cryopreservation services, and cryogenic systems, which in varying combinations deliver end-to-end solutions that meet the rigorous demands
of the life sciences. With innovation, regulatory compliance, and agility at our core, we are "Enabling the Future of Medicine ."
in Nashville, Tennessee, our company maintains a strong global presence with operations across the Americas, EMEA, and APAC.
information, visit www.cryoportinc.com or follow via LinkedIn at https://www.linkedin.com/company/cryoportinc or @cryoport
on X, formerly known as Twitter at https://x.com/cryoport for live updates.
in this press release which are not purely historical, including statements regarding the Company's intentions, hopes, beliefs, expectations,
representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, those related to the Company's industry,